Author：Site  Source：Network  Click to rate：1403  Post time：2015-10-26

SHANGHAI, Oct. 26 (SMM) –LME aluminum slid to USD 1,479/mt after opening at USD 1,490/mt on Friday. LME aluminum rallied to USD 1,545/mt after the PBOC announced interest rate and RRR cuts. But prices fell back to below the 5-day moving average later as the US dollar index climbed above 97. Finally, the light metal ended up USD 15/mt at USD 1,500.5/mt. Trading volumes were up 6,420 lots to 24,932 lots, and positions were up 5,170 to 791,000.  

On Friday night, SHFE 1601 aluminum fell to RMB 10,390/mt after opening lower at RMB 10,600/mt, but then rebounded to RMB 10,500/mt after the PBOC announced interest rate and RRR cuts. The most active contract should range RMB 10,400-10,540/mt on Monday. In China’s spot market, sellers will show high selling interest, while downstream buyers will continue holding to the sidelines. Spot discounts will widen further to RMB 210-170/mt over SHFE 1511 aluminum contract.